Ever since the formation of the United Arab Emirates, Ras al-Khaimah has set itself apart by its distinct business and economic practices. The last to join the union, Ras al-Khaimah is a geographically unique region, with the most fertile soil in the UAE. For a long time, agriculture was the main economic activity in the Emirate. But during the last few decades, Ras al-Khaimah has successfully industrialized its economy.
Even though it’s not a major oil producer, Ras al-Khaimah has been able to find significant economic growth through diversification into other industries like iron ore mining, cement and technology manufacturing, real estate and tourism. One of the best examples of this diversification is the Ras al-Khaimah Free Trade Zone.
Ras al-Khaimah Free Trade Zone
For the past few decades, Ras al-Khaimah’s GDP has been growing at an exponential rate. This has attracted small and large businesses from across the world, looking to share and contribute to this growth. To facilitate this, RAK FTZ was set up to ease the process of setting up a business in Ras al-Khaimah, thereby enabling large scale international and offshore company incorporation.
Envisioned to implement and support Ras al-Khaimah’s large scale diversification policies, RAK FTZ has contributed greatly to the development of the emirate.
Here are the top 5 reasons why RAK FTZ is one of the best places to set up a business in the region:
RAK FTZ is the second largest free zone in the UAE, hosting over 8,000 businesses in over 50 industry sectors, from over 100 countries.
- It is also one of the most cost-effective and affordable free trade zones in the region, with comparative costs that are almost 50% less than others.
- RAK FTZ offers easy access to international airports, seaports and superhighways that connect businesses to markets across the UAE and the GCC region.
- One of the fastest growing trade zones, business incorporation has more than doubled in the last 5 years.
- Specialized business zones according to sector of operation – Business Park, Industrial Park and Technology Park.
In addition to these, RAK FTZ also offers a range of small and large benefits and support services for businesses looking to set up offices in the free trade zone:
- 100% foreign ownership
- 100% repatriation of profits
- A tax-free environment
- A range of business support services from training of employees to advertising
- Fast-track licensing and registration
- Fast-track visa issuance
- Customisable offices with modern facilities and IT services
- A range of support services like courier and post office.
- Space for all needs – from flexi desks and offices for small businesses to land for industrial development and employee accommodation.
It is easy to see that, as one of the fastest growing business regions in the UAE, Ras al-Khaimah, and specifically RAK FTZ, offers tons of opportunities for businesses to find their unique space, market and grow exponentially, irrespective of their sector of operation.
If you are one of the many businesses, entrepreneurs and investors looking to set up an office at RAK FTZ, it would be wise to seek the help of a reputed company incorporation agency to ease the business set up process.